Market valuation of top-10 firms falls by Rs 23,417.15 crore, Infosys and TCS hit the hardest
The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with Infosys and Tata Consultancy Services (TCS) being the biggest losers. This decline comes as a contrast to the 0.84% advance of the BSE benchmark, which gained 540.9 points last week.
Reliance Industries Ltd, TCS, Hindustan Unilever Ltd, and Infosys saw erosion from their market capitalisation (mcap), while HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance witnessed a combined addition of Rs 17,386.45 crore.
The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms. TCS’ mcap declined by Rs 6,604.59 crore to Rs 12,19,488.64 crore, Hindustan Unilever’s mcap diminished by Rs 5,133.85 crore to Rs 5,84,284.61 crore, and Reliance Industries’ mcap dipped by Rs 3,213.62 crore to Rs 15,65,781.62 crore. On the other hand, HDFC Bank’s valuation jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore, and ICICI Bank added Rs 3,520.92 crore, taking its market valuation to Rs 6,57,563.38 crore.
The mcap of ITC climbed Rs 3,304.93 crore to reach Rs 5,44,004.63 crore, Bharti Airtel’s valuation surged Rs 2,669.67 crore to Rs 5,25,756.89 crore, and Bajaj Finance gained Rs 1,539.04 crore to Rs 4,51,143.08 crore. State Bank of India added Rs 1,115.58 crore, taking its market valuation to Rs 5,17,092.02 crore.
In the ranking of top-10 firms, Reliance Industries retained the most valued title, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance.
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